M-Pesa Integration with SSP Pure System

Digitization has been at the forefront of business and organizational evolution. The insurance sector has greatly benefited from the integration of digitized processes into business practices.  As part of our strategic agenda to enhance our customer experience and run efficient processes we have set out to integrate our payment system with M-Pesa. This means that customers can pay for their insurance premiums at their own convenience and get an online receipt inform of a text message. M-Pesa forms our first of a series of digital payment solutions which affirms our commitment to comply with the insurance amendment act of 2019, that requires premiums for insurance policies to be paid upfront and directly to the insurer.

We expect several wins through the integration of our systems with M-Pesa;

  1. Reduce the turnaround time in confirming client payments.
  2. A drop in human error as automated functions are more accurate than manual systems.
  3. Our customers will get to benefit from faster payments and better experience during claiming with a reduced turnaround time of 1 – 2 days.
  4. There will be less need to physically visit the branch for payment confirmation, these will happen in real-time.
  5. Easier payment for our customers, through a simplified M-Pesa payment platform that will only require the customer to input either Vehicle Registration Number, Member number or Policy Number as their account number in the Pay Bill process.

Integration of systems has been a key driver in our business. It has enabled;

  1. a 50% growth in our general business revenue from KES 850M in 2017 to KES 1.2Bn in 2018 via partnerships.
  2. Our overall productivity through the lean internal processes has attributed to a 25% increase in premium collection.

We further aim to integrate this with our Self Service Portal that will enable customers to buy and pay online via mobile money, Visa and Master Cards.

Further Implementing USSD functionality that prompts customers to pay via MPESA through STK push when registering new business, claims and other insurance functions.  We are continuously working to ensure that we provide more customer-centric solutions. Customer satisfaction and smooth swift processes will continue to be a matter of interest in all our business operations and processes.